Café Domino Under Negotiation to Acquire Established Roaster with Rich History in New England

Rhea-AI Summary

Star8 (OTCMARKETS: STRH), the maker of Café Domino, is in negotiations to acquire an established coffee roaster with a rich history in New England. This roaster has distribution across Connecticut, Massachusetts, New York, New Jersey, and Pennsylvania. The acquisition aims to strengthen Café Domino's nationwide footprint and scale operations significantly.

Café Domino currently serves over 350 accounts, including boutiques, grocery retailers, and large restaurant chains. Recent distribution deals will place their products in nearly 100 locations across Florida, with plans to reach an additional 120 supermarkets within the next year. The production capability of the roaster under acquisition is approximately 8 million tons of coffee annually.

Positive

• Potential acquisition of an established roaster with distribution across five states
• Current service to over 350 accounts, including boutiques, grocery retailers, and large restaurant chains
• Expansion plans to reach 100 locations in Florida and additional 120 supermarkets within a year
• Acquisition target has production capability of 8 million tons of coffee annually

Negative

• None.

MIAMI, Aug. 2, 2024 /PRNewswire/ -- Star8 Corporation (OTCMARKETS: STRH), the makers of Café Domino, proudly announces that it is under negotiation to acquire an established roaster with a rich history in New England with distribution across Connecticut, Massachusetts, New York, New Jersey, and Pennsylvania.

Pino Impagliazzo, Chief Executive Officer of Café Domino, remarked, "This acquisition is a testament to our dedication to strengthening our footprint nationwide. With this integration, we aim to scale our operations significantly. Deeply rooted in the rich Italian and Latin coffee cultures, we have learned the importance of quality, authenticity, and the shared experience that coffee brings. By acquiring this roaster, we are excited to infuse these cultural influences into new markets, ensuring that the passion and flavor of Café Domino reach even more people."

Café Domino, known for its ground, whole bean, and coffee pod products, currently serves over 350 accounts, including boutiques, grocery retailers, and large restaurant chains. Recent distribution deals will place Café Domino products in nearly 100 locations across Florida, with plans to reach an additional 120 supermarkets within the next year.

"In just a few years, Café Domino has secured over 350 accounts and is in an aggressive growth stage with the goal to become the coffee of choice nationwide," added Impagliazzo. "The production capability of the roaster is approximately 8 million tons of coffee annually." Further Stated Pino Impagliazzo

About the Coffee Culture in New England:

New England boasts a vibrant coffee culture with deep historical roots. Coffee houses in cities like Boston became central to social and political life from the 17th century onwards. Over the years, the region has nurtured numerous high-quality roasters, many of which started as small, family-run businesses and grew into iconic brands. The roaster that Café Domino is negotiating to acquire has been an integral part of this tradition for decades, known for its commitment to quality and tradition. This roaster has supplied some of the biggest names in the industry and played a significant role in the community through local events, charitable efforts, and educational initiatives like tours, tastings, and workshops.

About Star8 Corporation:
Star8 Corporation is a diversified holding company with interests in a wide range of industries. Café Domino, one of its flagship brands, specializes in the sale and distribution of high-quality, freshly roasted coffee beans. Our products are sourced from all over the world, enabling us to provide customers with a wide selection of coffees that are sure to suit all tastes. We are passionate about coffee and take pride in delivering the freshest and most flavorful products available.
Our dedication to providing quality products is demonstrated in our extensive selection of freshly roasted coffees, including single origin, specialty, and decaffeinated coffees. At Café Domino, we are committed to providing our customers with excellent service and competitive pricing. We are also dedicated to providing our customers with access to the finest selection of coffee beans, as well as the latest brewing and roasting technologies. We strive to make sure our customers enjoy the highest quality coffee, while ensuring that the environment is respected and protected.

Forward-Looking Statements
This press release contains forward-looking statements regarding our business, financial condition, and prospects, based on our current assumptions and beliefs. However, the company cannot guarantee that the expectations expressed in these forward-looking statements will be realized. There may be unforeseen risks and circumstances that we are unable to predict. While words such as "believes," "expects," "intends," "plans," "anticipates," "estimates," and similar expressions are used to identify forward-looking statements, there may be forward-looking statements that are not accompanied by such expressions. Investors should exercise caution when relying on these forward-looking statements, as they speak only as of the date of this press release. The company's actual results may differ materially from the anticipated results expressed in these forward-looking statements due to various factors, including risks discussed in the company's periodic reports filed with the Securities and Exchange Commission, available on its website (www.sec.gov (http://www.sec.gov/)). All forward-looking statements attributed to the company or individuals acting on its behalf are expressly qualified in their entirety by these factors, except as required under securities laws. The company assumes no obligation to update these forward-looking statements. Investors should refer to the risk factors disclosure outlined in our periodic reports filed from time to time with the Securities and Exchange Commission.

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SOURCE Star8 Corp

FAQ

What is the significance of Café Domino's potential acquisition for Star8 (STRH)?

The acquisition would strengthen Café Domino's nationwide footprint, scale operations significantly, and expand distribution across five New England states, potentially boosting Star8 's market presence and revenue.

How many accounts does Café Domino currently serve and what are its expansion plans?

Café Domino currently serves over 350 accounts. It plans to expand to nearly 100 locations across Florida and reach an additional 120 supermarkets within the next year.

What is the production capability of the roaster Café Domino is negotiating to acquire?

The roaster under negotiation has a production capability of approximately 8 million tons of coffee annually.

In which states does the New England roaster currently distribute its products?

The roaster currently distributes its products across Connecticut, Massachusetts, New York, New Jersey, and Pennsylvania.